Foreign-Profit Tax Break Is Outlined

[ClarkUSA]

WASHINGTON, Jan. 13 - The Bush administration outlined rules on Thursday for a huge one-time tax break for companies that reinvest their overseas profits back into the United States.

The tax break, which was part of last year's corporate tax bill, would allow companies to pay a fraction of the normal tax rate on hundreds of billions of dollars in foreign profits...

<snip>

The rules would help companies finance some activities that do little to directly increase employment, and a few - like corporate acquisitions - that might lead to job cuts.

The Treasury Department said that the tax break could be used to finance advertising and marketing, even if a company did not plan to increase its advertising.

The administration said companies could also use their foreign profits to pay for corporate acquisitions, redeem old debt and spend on the general purpose of "financial stabilization."

http://www.nytimes.com/2005/01/14/business/14treasury.html

[chicagojoe]

1. And the capitalists wonder why they're "being attacked"!

Fucking asshole Bush sure likes to hand out those welfare checks, doesn't he?

[sandnsea]

2. Low dollar, big foreign profits

We just got fucked all the way around on this one.

[Voltaire99]

3. Pretty impressive, isn't it?

It's like rewarding bank robbers for returning later to deposit the loot in the same bank.

[slor]

4. Now now people...

We need not worry about this economic legerdemain, we have our "moral values" to defend, and gay marriages to fight. This will ease the pain that comes from starving to death.

[SillyGoose]

5. Bottom line here...

this administration looks down on the regular people in this country and seems to go out of its way to screw us over. What the hell is wrong with the people who voted for this jerk?

[txaslftist]

6. It's a good idea 'cause they're RICH!

If you're RICH it's cause God loves you. If you're RICH you deserve to be RICH!

RICH people are WINNERS! "Murka loves a WINNER!" WINNERS deserve their rewards. Give them WINNERS a break for God!

HAHAHAHAHAHA!

I wanna be RICH RICH RICH!

RICH RICH RICH RICH RICH RICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICHRICH RICH RICH RICH RICH